Ad valorem taxes; revise certain provisions regarding disposition of excess proceeds from sale of land for.

HB 488 amends Mississippi Code §27-41-77 to remove a provision allowing landowners to reclaim excess proceeds from tax-sale land within two years if the property isn’t redeemed. Previously, if land sold for unpaid taxes generated excess funds (above taxes and costs), landowners could request payment of that excess within two years if the land wasn’t redeemed. The bill now directs counties to deposit all such excess funds into general county funds immediately upon sale, eliminating the landowner’s two-year claim window. This change takes effect July 1, 2026, directly affecting landowners whose properties are sold for unpaid ad valorem taxes.